Manners: We did not have any major challenges but we underestimated the amount of time and effort that was needed to put together the plan. Communication was important to us and we were very intentional about the timing and substance of communication with our employees, clients and business partners. Simpson: Identifying the next partner revolves around the building of trust, and this takes time and patience. We need to understand that there isn't a perfect employee and hopeful employees need to understand that they are being evaluated on many different levels. 4. Did the process result in any cultural changes? Cargas: Employee ownership added another dimension to employee engagement and the feeling that "this is my company." Seventy percent of our employees are now owners. Manners: Six partners purchased the business on December 1, 1999 and we joke that succession planning began on December 2. In 2010 we became very intentional about leadership and ownership succession. It took us about three years to develop a solid plan. We received a lot of assistance in developing the plan as we spoke with our peers in our local groups and in our industry and with our accounting and legal advisors. 3. What were your biggest challenges in the succession planning process? Cargas: On the leadership side, whatever you do some people won't be happy with the decision. You need to think about the company first and find roles where everyone fits. On the ownership side, as I was heading below 50% ownership and no longer looking to be the "capital safety net," it took a long time for our employee-owner board members to fully appreciate the responsibility of managing capital. Manners: The new leadership may change the culture in time but we will always maintain the open and honest aspects of our culture. This new team has used the transition as an opportunity to ask our employees for ideas for change and improvements. 5. How long did the succession process take and can you comment on the quote, "Succession planning is not an event, it is a process"? Cargas: So far it has taken 18 years and it is still going. It took a few years to build a solid plan and now we review it each year and keep improving upon it. Manners: It took several years for initial discussion and development of our succession framework and documents. We are over a year into our transition of leadership and our ownership transition is still ahead of us so it is a long process. It is not just the mechanics of going through a checklist, it is important to maintain the trust and confidence of your team. LancasterChamber.com 19http://www.LancasterChamber.com